AXA Investment Managers closes 10th CLO Allegro X with $300m

AXA Investment Managers (AXA IM) today announces the close of Allegro X CLO (Allegro X), a new US Collateralised Loan Obligation (CLO). This closing marks AXA IM’s 10th US CLO deal.

Allegro X closed on 4 June 2019 with a notional value of USD 306.6 million. The non-call period for the structured debt is under two years, with a reinvestment period close to 5 years. Allegro X brings AXA IM’s total CLO assets under management to approximately USD 5.9 billion.

Deborah Shire, Head of Structured Finance at AXA IM, commented: “AXA IM is a regular issuer of CLOs globally with three to four new CLOs launched every year. We believe the recent placement of the AAA notes is well syndicated, a great achievement in current market conditions. The placement overall shows a variety of  recurring investors as well as new accounts starting to invest in our US platform on most of the classes including equity. ”

Allegro X CLO is managed by AXA Investment Managers, Inc.. AXA IM’s Structured Finance investment team  manages around USD 47 billion* in global assets across the non-traditional credit spectrum. For more than 18 years, it has provided bespoke solutions and investments in alternative credit and structured finance for large investors, typically looking for stable and predictable returns. AXA IM Structured Finance originates opportunities across the alternative credit spectrum to provide clients with opportunities for sourcing, diversification and spread pick-up.

Contacts

Jamie Wynn-Williams

+44 20 7003 2680

Jamie.Wynn-Williams@axa-im.com

Hélène Caillet

+33 1 44 45 88 06

Helene.Caillet@axa-im.com

*as at 31 March 2019.

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